We have all of this data, where’s the information? In the interest of trying to put a face to the customer, retail organizations are collecting data from myriad sources. In addition to data collected at the point of sale, retailers are conducting their own customer preference surveys, and service bureaus are supplying literally hundreds of demographic variables such as household income, number of children or the age of family members.
However, even with all of this data, retailers find it does not directly translate into an increased understanding of the customer and what motivates them to shop and spend. The challenge that retailers face today is smoothly integrating point-of-sale data, demographics and qualitative information into a unified picture of the customer base.
Only with an intimate understanding of the customer will it be possible to create meaningful customer communications.